Donaco CEO confident about long-term outlook for Aristo Hotel in Vietnam

Lee Bug Huy, chief executive of Donaco, said the company was confident in the long-term business prospects of its Aristo International Hotel in Lao Cai.

Australia.- Lee Bug Huy, chief executive of Donaco International, referred to the Aristo International Hotel in Lao Cai, near Vietnam’s border with China, while talking with Vietnam Investment Review news outlet.

Huy stated the company was “confident” in the long-term business prospects of its Aristo International Hotel and said: “Vietnam has a lot of potential and we are confident that once borders reopen the situation will stabilise.”

The Covid-19 pandemic has led to regional travel restrictions, posing a challenge for most border-based gaming venues like Aristo International Hotel serving customers in neighbouring countries. 

In addition, China has been stepping up its enforcement of “cross-border” gambling against its citizens.

Noting that local Vietnamese are banned from most of the country’s casino resorts, the Donaco CEO said Aristo is trying to tap new sources of regional customers due to the lack of tourists.

However, the government of Vietnam has started to allow the return of foreign tourists on international flights on a limited basis.

According to local media reports, the first phase will see flights between Vietnam and San Francisco or Los Angeles, Singapore, Bangkok, Phnom Penh, Vientiane (Laos), Beijing, Tokyo, Seoul and Taipei.

The second phase will start this month, adding routes between Vietnam and Kuala Lumpur, Hong Kong, Paris, Frankfurt, Sydney and Moscow. The phase will last for one month and it is estimated to see around 160,000 people arrive in Vietnam.

Last year Donaco suffered the temporary closure of its flagship casino resort Star Vegas Resort & Club in Poipet on the Cambodia-Thailand border, which has been closed from April 2021 due to the Covid-19 pandemic.

During the third quarter of the year 2021, casino revenue was AU$50,000 while in the previous quarter it has reached AU$130,000.